§ 14. Mr. Ian Gilmourasked the Minister of Agriculture, Fisheries and Food what plans he has to set up an agricultural credit organisation to help small farmers.
§ Mr. PeartI would refer the hon. Member to paragraph 51 of the White Paper on the Annual Review (Cmnd. 2621). This announces a new type of credit arrangement in the agricultural field, which will be supported by a Government grant in aid. This seems to have been warmly welcomed.
§ Mr. GilmourI agree with that, as far as it goes. Would not the right hon. Gentleman agree that it does not go as far as the First Secretary promised in his Swaffham speech on 17th July, 1963? As the deplorable agricultural policies of the Government have greatly increased farmers' overdrafts, and therefore made improved credit much more necessary, should not he speedily implement that promise?
§ Mr. PeartThe hon. Gentleman must realise that this is the first step forward for agriculture. Grant aid will be given of nearly £250,000. We have done this within six months of coming into office, and it is based on a long-term point of view. After all, we are going to govern for another five years.
§ Mr. PriorIs the right hon. Gentleman aware that this in no way fulfils the electoral promise made by his right hon. Friend in that the cheap credit is not cheap? Is he further aware that it was promises made before the last election on those lines which led the farming community to expect rather better of the right hon. Gentleman than they have obtained, and that this is what all the noise is about now?
§ Mr. PeartIt is rather remarkable that people expect more in six months than they received in six years of Conservative administration. The fact is that we have acted, and nearly £250,000 will be allocated for this purpose.
§ Mr. James JohnsonCan my right hon. Friend say whether the former Government, with or without a farmers' lobby 1637 alongside them, did anything in this connection in the past years?